HB433 Summary

• Allocates remaining Tennessee Valley Authority in-lieu-of-taxes payments to Morgan County after Act 2013-199 allocations are made.

• Distributes $100,000 annually to United Way of Morgan County for the Starting Strong Pre-K Initiative for fiscal years 2014, 2015, and 2016 only.

• Distributes remaining proceeds for fiscal years 2014-2018 to eight recipients: City of Hartselle ($93,500), City of Decatur ($156,750), Town of Priceville ($22,800), Town of Eva ($3,990), Town of Falkville ($9,500), Town of Somerville ($5,700), Town of Trinity ($15,675), and Morgan County Commission ($62,885).

• Provides that if insufficient funds exist for full distributions, amounts shall be distributed proportionately among recipients.

• Repeals Act 2013-328 of the 2013 Regular Session and becomes effective on the first day of the third month following passage and approval.